Voleon Capital Management LP Takes Position in The Hartford Insurance Group, Inc. $HIG

Key Points

• Voleon Capital Management LP has acquired a new position in The Hartford Insurance Group, purchasing 4,934 shares valued at approximately $610,000 during the first quarter.
• Analysts have provided varying ratings and price targets for The Hartford, with Cantor Fitzgerald setting an "overweight" rating and a target price of $152.00, while Citigroup issued a "neutral" rating with a $138.00 objective.
• The Hartford Insurance Group reported earnings per share of $3.41 for the last quarter, exceeding estimates by $0.58, alongside a quarterly revenue of $6.99 billion.

Voleon Capital Management LP bought a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,934 shares of the insurance provider's stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HIG. Balyasny Asset Management L.P. grew its holdings in shares of The Hartford Insurance Group by 608.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 16,778 shares of the insurance provider's stock worth $1,836,000 after acquiring an additional 20,078 shares during the period. Cetera Investment Advisers grew its holdings in shares of The Hartford Insurance Group by 4.5% during the 4th quarter. Cetera Investment Advisers now owns 54,735 shares of the insurance provider's stock worth $5,988,000 after acquiring an additional 2,372 shares during the period. Focus Partners Wealth grew its holdings in shares of The Hartford Insurance Group by 16.9% during the 4th quarter. Focus Partners Wealth now owns 14,369 shares of the insurance provider's stock worth $1,572,000 after acquiring an additional 2,077 shares during the period. Lazard Asset Management LLC grew its holdings in shares of The Hartford Insurance Group by 0.6% during the 4th quarter. Lazard Asset Management LLC now owns 239,531 shares of the insurance provider's stock worth $26,203,000 after acquiring an additional 1,482 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of The Hartford Insurance Group by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 129,664 shares of the insurance provider's stock worth $14,185,000 after acquiring an additional 7,006 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Insurance Group

In other news, EVP Donald Christian Hunt sold 2,124 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $133.87, for a total transaction of $284,339.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 35,340 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $123.50, for a total value of $4,364,490.00. Following the transaction, the chief financial officer directly owned 77,574 shares in the company, valued at $9,580,389. The trade was a 31.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

The Hartford Insurance Group Stock Down 0.5%

HIG stock traded down $0.70 during midday trading on Friday, hitting $132.52. The company's stock had a trading volume of 1,127,441 shares, compared to its average volume of 1,341,102. The company has a market cap of $37.26 billion, a PE ratio of 12.01, a P/E/G ratio of 1.29 and a beta of 0.72. The Hartford Insurance Group, Inc. has a 12 month low of $104.93 and a 12 month high of $135.17. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The firm's 50-day moving average is $127.74 and its 200-day moving average is $124.47.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion for the quarter, compared to analysts' expectations of $7.02 billion. The Hartford Insurance Group had a return on equity of 19.60% and a net margin of 11.83%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. On average, equities research analysts forecast that The Hartford Insurance Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. The Hartford Insurance Group's dividend payout ratio is presently 18.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on HIG shares. JPMorgan Chase & Co. upped their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up previously from $135.00) on shares of The Hartford Insurance Group in a research note on Friday, August 1st. Barclays cut their price target on The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Wall Street Zen upgraded The Hartford Insurance Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Wells Fargo & Company upped their price target on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Moderate Buy" and a consensus price target of $138.00.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.